The optimal hiring rule is to employ labor up to the point where:
a. wage = MFC.
b. wage = MP.
c. wage = MR
d. wage = MRP
e. wage = TWC.
d
Economics
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A monopoly that price discriminates ______
A. benefits buyers because it offers the good at a variety of prices B. gains because it converts consumer surplus to economic profit C. uses resources more efficiently than would a competitive market D. enables buyers to maximize their consumer surplus
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What is the profit maximizing (loss minimizing) quantity for the perfectly competitive firm to produce?
Economics